Website: http://www.ncsecu.org

Authority: THE SECU or State Employees Credit Union is a US based co-operative that was established back in 1937 with over 1.9 million members. It specifically offers banking services to residents in North Carolina. SECU offers savings products higher rates of interest than a savings account called a share term certificates (STC), this is also also known as a CD or certificate of deposit at other banks..

How to open a SECU Certificate of Deposit:

- Existing member can apply for a share term certificate online via the member access on the website. Please note that the SECU member access requires all first-time users to enroll in member access and will require your ATM/Debit card as well as 3-digit voice response number in order to enroll. 

- For new members, visit the local branch or phone the contact center.

- The contact center  is available 24 hours a day, 7 days a week (888)732-8562/ (919) 857-2150 to reach a representative who may provide you assistance and answers to questions to help you setup an account.

- You can visit one of their 254 local branches with members and their families provided access to loans and deposit services their branch offices located in 169 North Carolina communities.

Some considerations about the nature of interest rates for SECU 1 Year CD Rates:

In general a credit union such as SECU primary source of operating revenues is interest earned on member loans and short term investments. In relation to deposits, a credit union can invest member deposits primarily in member loans. So the net interest margin they make between deposits and loans is important. So consideration of a one year CD interest rate which matures at 365 days in the future can be affected that are current as well as forecasted and modelled by the bank. 

The current and future fed funds rate policy direction set by the Federal Reserve is an important variable in determining the CD rate as well as funding, liquidity and regulation requirements including Basel III that can also impact desire for retail deposits. Please note that the liquidity needs of SECU can fluctuate and are tied to member loan volumes, deposit activities and corporate investing, Also credit unions may have to increase rates to attract deposits over competitors if deposit funding is required.

What is the security and safety of a SECU CD account?

The credit union CD products is insured by the National Credit Union Administration (NCUA), a U.S. Government Agency, to a maximum covered amount payable through the National Credit Union Share Insurance Fund (NCUSIF or Fund). Please visit the NCUA website for exact details.

This cd product is for a 12 month / 1 year with standard, jumbo and super jumbo cd interest rates available.

Terms for the CD:

The rate indicated is for a standard STC or CD for a 1 year/12 month period. Please note that SECU offers two different types of STC/CD including regular CDs and Laddered CDs.